National Housing Bank disburses Rs 421-crore subsidies

National Housing Bank (NHB), as a central nodal agency (CNA), has disbursed housing subsidies worth Rs 421 crore so far this year and expects to double this next year, an official said today.

The bank will also accelerate the middle income group (MIG) programme, MD and CEO of NHB Sriram Kalyanaraman.

"NHB, as a CNA, has disbursed subsidies of Rs 421 crore so far and expects to double this next year and also accelerate the MIG programme," Kalyanaraman said in a statement.

"Maharashtra and Gujarat accounted for 65 per cent share of the subsidies in the (credit-linked subsidy scheme) CLSS programme, which is open to people with annual household income of Rs 6-18 lakh," he added.

In all, 38 primary lending institutions, including banks, housing finance companies and a small finance bank entered into MoUs with NHB for implementation of the scheme.